William Blair Investment Management LLC Invests $116.88 Million in Spotify Technology S.A. (NYSE:SPOT)

William Blair Investment Management LLC bought a new position in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 261,255 shares of the company’s stock, valued at approximately $116,880,000. William Blair Investment Management LLC owned about 0.13% of Spotify Technology as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Signaturefd LLC increased its position in shares of Spotify Technology by 67.9% in the 4th quarter. Signaturefd LLC now owns 3,209 shares of the company’s stock worth $1,436,000 after purchasing an additional 1,298 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Spotify Technology by 154.1% in the 4th quarter. Parallel Advisors LLC now owns 2,483 shares of the company’s stock worth $1,111,000 after purchasing an additional 1,506 shares during the last quarter. Polen Capital Management LLC bought a new stake in shares of Spotify Technology in the 4th quarter worth about $27,228,000. Creative Financial Designs Inc. ADV increased its position in shares of Spotify Technology by 680.6% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 281 shares of the company’s stock worth $126,000 after purchasing an additional 245 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Spotify Technology by 13.3% in the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company’s stock worth $99,000 after purchasing an additional 26 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

SPOT has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Guggenheim reaffirmed a “buy” rating and set a $675.00 price objective on shares of Spotify Technology in a research report on Monday, February 24th. Redburn Atlantic initiated coverage on shares of Spotify Technology in a research report on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price objective for the company. Macquarie boosted their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Canaccord Genuity Group boosted their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $540.68.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $576.02 on Monday. Spotify Technology S.A. has a 12 month low of $249.58 and a 12 month high of $652.63. The stock has a market cap of $117.92 billion, a price-to-earnings ratio of 96.81 and a beta of 1.66. The stock’s 50 day moving average price is $555.35 and its 200 day moving average price is $461.13.

Spotify Technology Company Profile

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.